Latest news
Latest news
The rise of the European master trust and the CLO market nears shut down
The trade is EdgeConneX’s euro debut, the first Dutch data centre ABS, the first data centre CMBS structure and the first master trust structure
'Super wide' guidance on triple-As brings in orders twice the tranche size
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With spreads at historically tight levels, the CMBS market benefited from a big jump in loan refinancing during the third quarter to snap up collateral and win market share from life insurance companies, according to data from the Mortgage Bankers Association (MBA). -
Bank of America Merrill Lynch has announced Taurus 2017-2, a sterling denominated CMBS backed by a single loan secured on a portfolio of UK logistics properties — the first sterling CMBS deal to be issued in over two years.
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The aversion of US capital markets investors to regional shopping malls is putting pressure on real estate investment trusts that target the sector, with Fitch stripping one of them of investment grade status on Thursday.
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Unclogging the balance sheets of Europe’s banks has been a long and painful process, and one that has inhibited the region’s growth and recovery. But, as Bill Thornhill reports, the first securitization of non-performing loans without a government guarantee by a Portuguese bank this week is a crucial development for Europe’s heavily burdened banking sector.
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Creditors of Caesars Palace in Las Vegas have turned to the CMBS market to raise debt against the casino to help finance the Chapter 11 restructuring of the business.
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US hedge fund Ellington Management has bought into the equity of a private Greek NPL securitization, cutting the investment that Aldridge EDC, the original investor in the portfolio, has to put down.
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US CMBS conduit spreads hit their tightest level since July 2014 on Friday, as market watchers eye heavy demand even in the face of a deluge of new paper in the fourth quarter.
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Goldman Sachs is prepping a single asset deal backed by part of a $1.2bn financing package on New York office building One Worldwide Plaza, according to sources. But while New York office collateral has formed the bedrock of SASB issuance this year, investors could soon start running up against concentration limits, according to one originator.
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Issuers have given price guidance for the $1.13bn BANK 2017-BNK8 conduit CMBS deal, targeting the tightest super senior triple-A pricing of 2017.
